president, i knew bill clinton. [laughter] [applause] our ideas work. their ideas don't. the last four years, our economy's grown 1.5% a year. that is less than half the historical average for 70 years average 3.3% growth a year. now, this president is fond of saying he inherited the worst economy in the history of the universe. [laughter] everything, by the way, is george w. bush's fault. he doesn't have much historical memory when he makes that argument. any of y'all remember 1978-79? double digit unemployment, 22% interest rates, gas lines, stagflation. in 1980 #, a very, very different president got legislatedded. ronald reagan, like barack obama, inherited a struggling economy, and reagan implemented policies 180 opposite those of obama. instead of jacking up taxes, he slashedded taxes. instead of exploding spending in the debt, he restrained the growth of spending, and instead of unleashing the hounds of regulators, by the way, when i think of regulators, i can't help but thinking of mr. burns saying, "release the hounds." [laughter] instead of releasing the hounds